Oxbridge Re Holdings subsidiary SurancePlus said on Wednesday that it has agreed with HCI Group to launch three tokenized reinsurance securities, HCI Re 2026 Series A, B, and C, on the Solana blockchain via Alphaledger’s Vulcan Forge platform. The offering targets approximately $12 million in subscriptions if fully subscribed.
The tokens provide synthetic contractual exposure to excess-of-loss reinsurance contracts underwritten by HCI’s Cayman Islands subsidiary Fortex Reinsurance SPC through its 2026-2027 program. Series A, B, and C target annualized returns of 243%, 133%, and 19%, respectively, assuming no underwriting losses. Minimum investment starts at approximately $5,000.
The securities are available to U.S. accredited investors under Rule 506(c) and non-U.S. investors under Regulation S. Alphaledger’s platform issues securities as SPL tokens with transfer restrictions and wallet whitelisting.
The tokenized slice is small relative to HCI’s broader catastrophe reinsurance placement. HCI’s June 1 filing shows the insurer expects to cede approximately $381.2 million in net reinsurance premiums to third parties across its three towers for the 2026-2027 treaty year, with Fortex Re now participating across two of those towers.
Oxbridge is listed on Nasdaq under the ticker OXBR. HCI trades on the NYSE.
